MLF Judging Criteria

Transcript

1. Judging Criteria Judging Criteria
2. What is the problem you are solving? Strong applications will clearly describe the problem and provide a data backed answer. • The team understands what causes the problem • Answer explains who this problem impacts and why • Problem reflects scope of competition as pertaining to financial inclusions for Irish citizens.
3. What is your solution? High-quality applications create a clear link between the problem they have identified and the solution they are offering. • The solution is plausible or in-market • The solution has potential to scale to all of Ireland • The solution meets the spirit of the competition in that it delivers value through unmet financial services needs.
4. Why does your solution produce better results than others trying to solve the same problem? Strong answers will describe the most significant competitive advantage of their product or service. • Appears to have strong grasp on the marketplace • Describes why their value proposition is more compelling than the competition
5. How is your solution financially sustainable? Strong applications will present a clear and plausible argument as to how their solution generates a reliable source of funding (either through revenue or donations). • The team clearly indicates who pays for the solution • If a nonprofit, it is clear how the applicant acquires funding • The financial model will allow the company to achieve nationwide
6. What is a barrier you could encounter on your path to ultimate success and how would you be resourceful to overcome it? Strong applications will demonstrate a sensible grasp on potential barriers and risks including running out of money, and slow customer adoption. Answers should provide specific examples that provide evidence of resourcefulness and preparation.
7. Describe a future where your solution has succeeded. Help us imagine the potential here. Strong applications will exude a high degree of inspiration and passion for the future of their company. • Is the applicant ambitious with their vision? • Does the application make you excited about their vision? • Do you believe this applicant can attract partners and employees in order to achieve success?
8. Is this a high potential concept? Help us identify high potential concepts and strong teams who may have submitted weak entries. We don’t want to miss a good venture who may have had an off day. This is where you tell us to take a second look.
9. Your Valued Feedback Please provide any advice, insights, or resources to be shared with the applicant. This might be a way to think about finding more customers or how to overcome a barrier they described. You can also provide constructive feedback for any improvements.
10. For questions or support, please email support@goverb.com